CPO Cross Shopping: Non-Luxury Cars
Opportunities to upgrade shoppers from used cars to CPO models exist in varying degrees for these non-luxury OEMs. For instance, used shoppers of Asian imports and smaller cars are less likely to consider CPO alternatives (Asian models represent nearly two-thirds of the used vehicles below the segment average in CPO cross-shopping, with smaller vehicles also prevalent in the lower range). Meanwhile, larger sedans along with Volkswagen and a handful of highly trafficked midsize cars (e.g., Camry, Accord, Malibu) are ahead of their rivals, exceeding the average segment range in CPO consideration. This broad spectrum across the category reveals opportunities to stimulate CPO interest and to capitalize on existing CPO interest, both of which require reinforcing the value of certified offerings in the minds of in-brand and competitive used car shoppers to close the deal.